Chesapeake extends Metates community agreement to 2030

Mr. Jean-Paul Tsotsos reports CHESAPEAKE GOLD EXTENDS COMMUNITY EXPLORATION AGREEMENT AT METATES Chesapeake Gold Corp. has extended its exploration agreement for the second time for the Metates property, with the local community of San Juan de Camarones, located in the municipality of Santiago Papasquiaro, Durango, Mexico. The extension adds an additional five years to the original agreement signed in May, 2018, now until October, 2030. Jean-Paul Tsotsos, interim chief executive officer, stated: "For over 19 years, we have been committed to maintaining an excellent working relationship with the community and other stakeholders. The community's support and collaboration have been integral in providing a development plan for Metates and responsible social benefits for the region. This extension agreement marks another important milestone as we work towards a prefeasibility study (PFS) in 2026 and the further development of Metates." As a brief Metates update, the proprietary sulphide leach testwork remains on schedule and is progressing well alongside environmental and related baseline studies in support of the upcoming PFS. About Chesapeake Gold Corp. Chesapeake Gold's flagship asset is the Metates project located in Durango state, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas with over 16.77 million ounces of gold at 0.57 gram per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the measured and indicated mineral resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the inferred mineral resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated Jan. 13, 2023, and news release dated Feb. 22, 2023. We seek Safe Harbor.